Question
Accountancy Question on Overview of Computerized Accounting System
Which of the following is an example of sequential code?
A
Using Code "CL001" for "Accounts of XYZ Ltd."
B
Using Code "100-199" for "Dealers of Small Pumps"
C
Using Code "SJ" for "Sales Journals"
D
Using Code "HQ" for "Headquarters"
Answer
Using Code "CL001" for "Accounts of XYZ Ltd."
Explanation
Solution
Sequential codes are numerical or alphanumerical codes assigned in a specific sequence. "CL001" represents a sequential code where "CL" denotes the company, and "001" is the code number.
Hence, the correct answer is Option 1.